Updated Triplex with Separate
For Sale
$415,000
531 W Gramercy Pl, San Antonio, TX 78212
Two units are leased, with a third available for occupancy or new tenancy.
Property Size2,658 SF
Price / SF$156.13
Days on Market67
Property Features for 531 W Gramercy Pl
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Real Broker, LLC
Listed By:
Carmela Hampton
(855) 450-0442
Source:
Mlsluxurygroup
Added: Aug 2
Changed: Sep 5
Last Checked: Oct 6 at 12:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
This triplex contains three separately metered residences within 2,658 square feet. The lower level includes two 1-bedroom, 1-bath units, while the upper level has one 2-bedroom, 1-bath unit. Two units are currently rented, and the remaining unit is vacant for an owner-occupant or incoming tenant.
Cosmetic improvements completed in 2025 provide refreshed interiors while leaving flexibility for further personalization. The property was built in 1925 and is located in Alta Vista, minutes from Downtown San Antonio, the Pearl, Trinity University, and major employers.
Cosmetic improvements completed in 2025 provide refreshed interiors while leaving flexibility for further personalization. The property was built in 1925 and is located in Alta Vista, minutes from Downtown San Antonio, the Pearl, Trinity University, and major employers.
Key Highlights
- Three separately metered units
- Two 1‑bedroom, 1‑bath units downstairs and one 2‑bedroom, 1‑bath unit upstairs
- 2,658 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,594
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,880
$611.9K
Cap Rate 7%
$437,057
$437.1K
Cap Rate 9%
$339,933
$339.9K
Market Conditions
NOI Build-Up for 2,658 SF
Gross rent
$46.2K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$43.7K $16.44/SF
− OpEx
−$13.1K −$4.93/SF
NOI
$30.6K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,880
Cap Rate 7%
$437,057
Cap Rate 9%
$339,933
Alternative Uses
Best Use
Multifamily LT 5
$437.1K
$382.4K – $509.9K
NOI $30,594 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.5K
NOI $27,151 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$678.0K
$593.3K – $791.0K
NOI $47,461 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Two units are leased, with a third available for occupancy or new tenancy.
Where is this triplex located?
The property is located at 531 W Gramercy Pl San Antonio, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Three separately metered units; Two 1‑bedroom, 1‑bath units downstairs and one 2‑bedroom, 1‑bath unit upstairs; 2,658 square feet
